Jiaqi Li is a Senior Economist in the Banking and Payments Department (BAP). She is a macroeconomist with research interests in banking, financial frictions and monetary transmission. Jiaqi obtained her PhD in Economics from the University of Cambridge.

Staff working papers

Central Bank Digital Currency and Banking Choices

Staff Working Paper 2024-4 Jiaqi Li, Andrew Usher, Yu Zhu
To what extent does a central bank digital currency (CBDC) compete with bank deposits? To answer this question, we develop and estimate a structural model where each household chooses which financial institution to deposit their digital money with.

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